Ardmore Shipping (NYSE:ASC) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Ardmore Shipping (NYSE:ASC) announced its quarterly earnings results on Thursday. The shipping company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.08), Zacks reports. Ardmore Shipping had a net margin of 36.22% and a return on equity of 23.63%.

Ardmore Shipping Stock Performance

Ardmore Shipping stock traded down $0.22 during trading hours on Friday, reaching $10.51. 187,642 shares of the company were exchanged, compared to its average volume of 716,111. The firm has a market cap of $439.53 million, a price-to-earnings ratio of 2.95 and a beta of 0.25. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $11.89 and a 200 day moving average of $14.84. Ardmore Shipping has a 12 month low of $10.55 and a 12 month high of $23.44.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ASC. Jefferies Financial Group reissued a “buy” rating and issued a $17.00 price target on shares of Ardmore Shipping in a research note on Thursday. Stifel Nicolaus cut Ardmore Shipping from a “buy” rating to a “hold” rating and decreased their target price for the stock from $24.00 to $17.00 in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.00.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.